Armis Advisers LLC Buys New Holdings in SPX Technologies, Inc. (NYSE:SPXC)

Armis Advisers LLC purchased a new position in shares of SPX Technologies, Inc. (NYSE:SPXC) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 2,191 shares of the company’s stock, valued at approximately $319,000.

A number of other institutional investors have also recently bought and sold shares of SPXC. Palisades Investment Partners LLC lifted its position in shares of SPX Technologies by 9.9% in the fourth quarter. Palisades Investment Partners LLC now owns 112,097 shares of the company’s stock valued at $16,312,000 after buying an additional 10,109 shares during the last quarter. Twinbeech Capital LP acquired a new stake in SPX Technologies during the 4th quarter valued at $1,931,000. Two Sigma Investments LP boosted its position in SPX Technologies by 90.8% during the fourth quarter. Two Sigma Investments LP now owns 13,607 shares of the company’s stock worth $1,980,000 after purchasing an additional 6,475 shares during the period. Tidal Investments LLC increased its holdings in shares of SPX Technologies by 10.2% in the fourth quarter. Tidal Investments LLC now owns 3,336 shares of the company’s stock valued at $485,000 after purchasing an additional 310 shares during the last quarter. Finally, Tema Etfs LLC acquired a new position in shares of SPX Technologies in the fourth quarter valued at $5,933,000. Institutional investors and hedge funds own 92.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Sidoti upgraded shares of SPX Technologies from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 26th. B. Riley assumed coverage on SPX Technologies in a report on Thursday, May 15th. They set a “buy” rating and a $195.00 price objective for the company. Finally, Oppenheimer upgraded SPX Technologies from a “market perform” rating to an “outperform” rating and set a $165.00 target price on the stock in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $178.80.

SPX Technologies Trading Up 0.1%

SPXC stock opened at $149.94 on Tuesday. SPX Technologies, Inc. has a 52 week low of $115.00 and a 52 week high of $183.83. The company has a market capitalization of $7.00 billion, a PE ratio of 40.31, a price-to-earnings-growth ratio of 1.33 and a beta of 1.21. The company’s 50-day simple moving average is $138.04 and its 200 day simple moving average is $146.70. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85.

SPX Technologies (NYSE:SPXC) last announced its earnings results on Thursday, May 1st. The company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.22. SPX Technologies had a net margin of 9.11% and a return on equity of 19.70%. The firm had revenue of $482.60 million for the quarter, compared to analyst estimates of $481.32 million. During the same quarter in the prior year, the business posted $1.25 EPS. The business’s revenue was up 3.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that SPX Technologies, Inc. will post 5.57 earnings per share for the current year.

About SPX Technologies

SPX Technologies, Inc supplies infrastructure equipment serving the heating, ventilation, and cooling (HVAC); and detection and measurement markets worldwide. The company operates in two segments, HVAC and Detection and Measurement. The HVAC segment engineers, designs, manufactures, installs, and services package and process cooling products and engineered air movement solutions for the HVAC industrial and power generation markets, as well as boilers, heating, and ventilation products for the residential and commercial markets.